Trust Co. of Oklahoma Buys New Shares in Bank of America Corporation $BAC

Trust Co. of Oklahoma bought a new position in shares of Bank of America Corporation (NYSE:BAC) during the fourth quarter, HoldingsChannel reports. The firm bought 12,104 shares of the financial services provider’s stock, valued at approximately $666,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BAC. Wiser Advisor Group LLC bought a new stake in shares of Bank of America in the 3rd quarter worth approximately $27,000. Steph & Co. grew its holdings in shares of Bank of America by 224.3% during the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 379 shares in the last quarter. Marquette Asset Management LLC bought a new stake in shares of Bank of America during the third quarter valued at approximately $30,000. Collier Financial acquired a new position in shares of Bank of America in the third quarter valued at $30,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in shares of Bank of America in the third quarter valued at $31,000. 70.71% of the stock is currently owned by institutional investors.

Trending Headlines about Bank of America

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Jefferies initiated coverage with a “Buy” and $60 price target, adding fresh bullish analyst support and suggesting ~27% upside from current levels. Read
• Positive Sentiment: Bank of America formed a Private Capital M&A group to advise private equity exits — a strategic move that can expand fee pools for the investment bank and help offset pressure in other areas. Article
• Positive Sentiment: Merrill and Bank of America Private Bank rolled out an AI?Powered Meeting Journey to save advisors time and improve client workflows — a productivity/retention leaver for wealth management revenue. Press Release
• Neutral Sentiment: Corporate/social partnership: Watson Links and Bank of America expanded youth golf access — positive PR but limited near?term revenue impact. PR
• Neutral Sentiment: Bank of America Securities continues active research coverage and reiterations on other companies (AstraZeneca, Arrowhead, Wave, etc.), highlighting the firm’s research franchise but with limited direct impact on BAC stock. Research Note
• Negative Sentiment: Oppenheimer cut its price target from $63 to $58 (still “Outperform”) — the lower target reduces upside expectations and can pressure the stock. Article
• Negative Sentiment: Goldman Sachs lowered its price target to $57 earlier this week — another analyst trim hitting sentiment after recent highs. Article
• Negative Sentiment: Coverage noted Bank of America “balances” costs from an Epstein settlement while advancing AI advisor tools — ongoing legal/settlement headlines can create headline risk and investor caution. Article

Bank of America Stock Up 0.1%

BAC opened at $47.01 on Monday. The firm’s 50-day simple moving average is $51.03 and its 200-day simple moving average is $52.29. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $57.55. The firm has a market cap of $335.93 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.15 and a beta of 1.28.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm posted $0.82 EPS. Equities research analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 6th were paid a $0.28 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.4%. Bank of America’s payout ratio is 29.24%.

Insider Transactions at Bank of America

In related news, insider Bernard A. Mensah sold 94,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.94, for a total transaction of $4,412,360.00. Following the completion of the sale, the insider directly owned 170,184 shares of the company’s stock, valued at $7,988,436.96. This trade represents a 35.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James P. Demare sold 83,832 shares of Bank of America stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $50.00, for a total value of $4,191,600.00. Following the completion of the transaction, the insider owned 307,240 shares of the company’s stock, valued at approximately $15,362,000. The trade was a 21.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 227,832 shares of company stock valued at $11,094,960 in the last three months. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BAC has been the topic of a number of recent research reports. Argus lifted their price target on shares of Bank of America from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Wells Fargo & Company increased their price objective on shares of Bank of America from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. HSBC raised their price objective on shares of Bank of America from $55.00 to $57.00 and gave the stock a “hold” rating in a report on Friday, February 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a research note on Tuesday, January 27th. Finally, Jefferies Financial Group assumed coverage on shares of Bank of America in a research report on Thursday. They issued a “buy” rating and a $60.00 price target for the company. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.67.

About Bank of America

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.